The physical therapy practice industry in Europe focuses on rehabilitation, pain management, and recovery after injury or surgery. It includes clinics, technology developers, and innovative startups creating tools that enhance patient care, such as telehealth platforms and rehabilitation robotics. The industry is increasingly integrating digital health solutions, allowing for more personalized therapy programs and improved patient monitoring. With a growing awareness of preventative health strategies, physical therapy practices are expected to expand their services to promote wellness and healthy lifestyles. The emphasis on patient outcomes and accessibility is shaping the future direction of the industry.


The investors in this list showcase a mix of venture capital firms, corporate investors, and private equity groups based across Europe. Predominantly located in major cities like London, Paris, and Stockholm, their investments span varying company sizes—from startups to established firms. Founded between 1972 and 2020, these investors were active in 2024 with transaction counts reflecting their distinct focus on healthcare. Noteworthy is Bpifrance French Tech Accélération's 198 investments, demonstrating a robust commitment to improving the physical therapy landscape alongside peers like Gilde Healthcare and EQT Group.


Top 16 Physical Therapy Practice Investors in Europe


1. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions relevant to the physical therapy practice context, including significant investments in Wandercraft, a developer of rehabilitation exoskeletons. Wandercraft raised $45 million in Series C funding and $17.8 million in Series B funding, with Bpifrance participating in both rounds. These investments highlight Bpifrance's commitment to supporting advancements in rehabilitation technology, which is crucial for physical therapy practices.


2. DigitalHealth.London


DigitalHealth.London is a not-for-profit organization founded in 2016, based in London, England. It connects NHS staff, digital health companies, and academics to enhance health and care through digital innovation. The organization offers various programs, including the Accelerator and Digital Pioneer Fellowship, to support the adoption of digital solutions in the NHS. Notably, DigitalHealth.London has been involved in several transactions relevant to the physical therapy practice context, such as Rewire Rehab, which focuses on rehabilitation solutions, and Physitrack, a platform that provides tools for physical therapy management. These transactions demonstrate DigitalHealth.London's commitment to supporting innovations that can improve physical therapy practices and patient outcomes.


3. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in funding companies relevant to the physical therapy practice context, such as Reactive Robotics, which raised over $2.6 million in grants to develop robotic assistance for early mobilization of intensive care patients. Other companies like Piomic and NC Biomatrix have also received significant grant funding from the EIC, indicating a commitment to supporting health-related innovations that could impact physical therapy practices.


4. Sofinnova Partners


Sofinnova Partners is a venture capital firm based in Paris, Île-De-France, France, founded in 1972. The firm specializes in life sciences investments, focusing on supporting innovative healthcare startups through funding and strategic guidance, particularly in the biopharma and medtech sectors. Notably, Sofinnova Partners has been involved in significant funding rounds for Mainstay Medical, which is developing the ReActiv8 system aimed at treating chronic pain and enhancing rehabilitation, making it relevant to physical therapy practices. Their investment strategy emphasizes fostering scientific advancements and sustainability in healthcare, which aligns with the needs of physical therapy practices looking for innovative solutions. Additionally, their participation in other healthcare-related funding rounds showcases their commitment to advancing medical technologies that could impact various aspects of patient care, including physical therapy.


5. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notably, Almi has been involved in several transactions relevant to the health sector, including PainDrainer, which raised significant funds in both seed and venture rounds, indicating a focus on pain management solutions. Other transactions, such as those involving Brain Stimulation and Learning To Sleep, suggest a broader interest in health-related innovations, which may align with the physical therapy practice industry.


6. Gilde Healthcare


Gilde Healthcare is a venture capital firm based in Utrecht, Netherlands, specializing in healthcare investments. Founded in 1982, the firm manages over €2.6 billion across two fund strategies: Venture&Growth and Private Equity. Gilde Healthcare focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, Gilde has invested in Fysius Rugexperts, a company dedicated to physical therapy, highlighting their engagement in this sector. Additionally, they have participated in funding rounds for companies like Mainstay Medical, which is involved in pain management technologies, and MicroTransponder, which focuses on therapeutic solutions that could intersect with physical rehabilitation. These transactions reflect Gilde's commitment to advancing healthcare solutions, including those relevant to physical therapy practices.


7. Calm/Storm

  • Website: calmstorm.vc
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 13
  • LinkedIn: calm-storm

Calm/Storm Ventures is a venture capital firm based in Vienna, Austria, founded in 2020. The firm focuses on early-stage investments in health tech startups, emphasizing support for purpose-driven founders. Their investment strategy includes providing capital, networking opportunities, and guidance to help startups navigate the competitive health tech landscape. Notable transactions include investments in Lillian Care, which is working to address the shortage of general practitioners and enhance primary care services, and Meela, which raised funds to support health-related initiatives. These investments reflect Calm/Storm's commitment to improving healthcare access and innovation, aligning with the broader goals of physical therapy practices that aim to enhance patient care and health outcomes.


8. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm specializes in providing growth funding and value creation support to small and mid-sized businesses across the UK and Ireland. BGF focuses on addressing the funding gap in the market through minority investments and extensive support services. Notably, BGF has invested in Primary Care Physio, raising over $10 million in September 2023, which highlights their involvement in the physical therapy practice sector. Additionally, they have made investments in other healthcare-related businesses, such as Medigold Health, which provides occupational health and corporate wellbeing services, further demonstrating their interest in the healthcare industry.


9. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the healthcare sector, including the acquisition of a 20% stake in Ottobock, a leading prosthetics manufacturer, which highlights their commitment to health-related services. Additionally, their acquisition of Icon Group, Australia's largest cancer care service provider, further emphasizes their focus on expanding healthcare investments. These transactions reflect EQT's strategic interest in sectors that are closely related to physical therapy practices, making them a relevant investor in this field.


10. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. EIB's mission is to promote growth and job creation within the European Union. In recent years, EIB has been actively involved in financing companies within the healthcare and rehabilitation sectors. For instance, in April 2024, EIB financed Wandercraft, a French medical robotics company, with €25 million to develop their Personal Exoskeleton, which aims to enhance patient mobility and access to rehabilitation technologies. Additionally, EIB has provided debt financing to other health-related companies such as Ottobock, known for its prosthetics and rehabilitation solutions, and Sidekick Health, which focuses on digital health solutions. These transactions highlight EIB's commitment to supporting innovations that can significantly impact physical therapy practices and patient care.


11. Apax

  • Website: apax.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 201-500
  • Number of deals in 2024: 8
  • LinkedIn: apax-partners

Apax Partners LLP is a private equity firm based in London, England, specializing in managing investments across various sectors, including technology, internet/consumer, healthcare, and services. Founded in 1981, Apax collaborates with management teams of high-potential companies to drive growth and innovation. They serve institutional investors seeking to enhance their capital through strategic investments in private equity funds. Notably, Apax has been involved in several transactions relevant to the healthcare sector, such as the acquisition of One Call Care Management, which focuses on care management services, and GENEX Services, a leading provider of integrated managed care services. Their investment in Align Networks, a specialty medicine network, further highlights their engagement in healthcare services. Additionally, their acquisition of Eating Recovery Center, a major provider of eating disorder treatment, reflects their commitment to investing in healthcare services that can include physical therapy practices. Overall, Apax's diverse portfolio and focus on healthcare make them a significant player in the industry.


12. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent private equity firm based in Luxembourg, founded in 2005. The firm specializes in private equity, credit, secondaries, and infrastructure, managing approximately €193 billion in assets for over 1000 clients, including pension funds and institutional investors. CVC has made significant investments in the healthcare sector, notably acquiring a majority interest in MedRisk, LLC for $1.15 billion, a company focused on physical rehabilitation and therapy services. Other relevant transactions include their acquisition of Mehilainen and Vitalia Home, both of which are involved in healthcare services. Additionally, CVC's investment in PT Siloam International Hospitals further demonstrates their commitment to the healthcare industry, making them a relevant player in the physical therapy practice investment landscape.


13. Bayern Kapital

  • Website: bayernkapital.de
  • Type: Venture Capital
  • Headquarters: Landshut, Bavaria, Germany
  • Founded year: 1995
  • Headcount: 11-50
  • Number of deals in 2024: 27
  • LinkedIn: bayern-kapital-gmbh

Bayern Kapital is a venture capital firm based in Landshut, Bavaria, Germany, founded in 1995. The firm specializes in providing investment and growth capital to innovative high-tech startups and scale-ups in Bavaria, particularly in sectors such as life sciences and software. Bayern Kapital supports its clients with financial resources and access to a network of industry experts, helping them navigate the challenges of growth and development. Among its notable transactions, Bayern Kapital has invested in Reactive Robotics, which focuses on robotic assistance for early mobilization of intensive care patients, highlighting its commitment to advancing technologies that can improve physical therapy practices. Additionally, their investment in iATROS, which raised funds for healthcare solutions, further emphasizes their interest in the healthcare sector, including physical therapy.


14. Octopus Ventures

  • Website: octopusventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2008
  • Headcount: 51-200
  • Number of deals in 2024: 37
  • LinkedIn: octopus-ventures

Octopus Ventures is a London-based venture capital firm founded in 2008, focusing on backing founders and startups across a diverse range of sectors, including B2B Software, Bio, Climate, Consumer, Deep Tech, Fintech, and Health. They provide funding and strategic support to entrepreneurs, helping them navigate the challenges of building and scaling their businesses. Notably, Octopus Ventures has invested in HelloSelf, a digital therapy and coaching platform that raised $20 million in a Series B round to expand its network of therapists and services, which is directly relevant to the physical therapy practice context. Additionally, their investment in Perci Health, a digital cancer support clinic, highlights their commitment to health-related startups, further indicating their potential interest in the physical therapy sector.


15. Mercia Asset Management PLC

  • Website: mercia.co.uk
  • Type: Venture Capital
  • Headquarters: Henley-In-Arden, England, United Kingdom (UK)
  • Founded year: 1982
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: mercia-asset-management

Mercia Asset Management PLC is a venture capital firm based in Henley-In-Arden, England, specializing in providing venture capital, private equity, and debt financing to support the growth of UK businesses. Founded in 1982, Mercia focuses on ambitious startups and established companies, particularly in technology and innovation sectors. Among their notable transactions, they have invested in STEPS Rehabilitation, which raised funds in 2017, and Adapttech, a biomedical startup that has raised multiple rounds of funding, including a Series A round in 2022 and earlier seed funding in 2016. Adapttech's focus on developing innovative products for rehabilitation aligns with the physical therapy practice industry, showcasing Mercia's commitment to supporting businesses that enhance healthcare services. Their investment strategy is geared towards fostering growth in sectors that include healthcare technology, making them a relevant player in the physical therapy practice investment landscape.


16. Index Ventures

  • Website: indexventures.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1996
  • Headcount: 51-200
  • Number of deals in 2024: 67
  • LinkedIn: index-ventures

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm specializes in investing in innovative startups across various sectors, including technology and healthcare. With a focus on building long-term partnerships with entrepreneurs, Index Ventures provides both capital and strategic support to help businesses navigate growth challenges. Notably, Index Ventures has participated in several funding rounds for Kry, a digital healthcare company that has raised significant capital over the years, including $160 million in Series D funding in July 2022 and $300 million in a previous Series D round in April 2021. These transactions highlight Index Ventures' commitment to the healthcare sector, indicating their potential interest in physical therapy practices and related innovations.



Physical Therapy Practice Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
DigitalHealth.LondonLondon, England, United Kingdom (UK)11-5020161
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Sofinnova PartnersParis, Île-De-France, France51-200197225
AlmiStockholm, Stockholm, Sweden201-50019947
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
Calm/StormVienna, Vienna, Austria1-10202013
BgfLondon, England, United Kingdom (UK)51-200201153
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
European Investment Bank (EIB)Luxembourg1001-5000195899
ApaxLondon, England, United Kingdom (UK)201-50019818
CvcLuxembourg1001-5000200516
Bayern KapitalLandshut, Bavaria, Germany11-50199527
Octopus VenturesLondon, England, United Kingdom (UK)51-200200837
Mercia Asset Management PLCHenley-In-Arden, England, United Kingdom (UK)51-200198241
Index VenturesLondon, England, United Kingdom (UK)51-200199667


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